Gold Resource Corporation reported on Thursday that it has picked Jesus Rivera, a mining and metallurgy engineer with experience in underground mining operations, as general manager of its Mexican Oaxaca mining business, which is in charge for companys El Aguila project.
Torex Gold Resources Inc. is pleased to report that the first two holes drilled into its Media Luna West target have returned high-value, gold-copper-silver mineralization of significant thickness. Borehole SS-06 delivered 14.6m with Au eq. grade of 8.76 g/t. Borehole MLW-04 delivered 39.4m with Au eq. grade of 4.00 g/t The Media Luna Area contains three magnetic anomaly targets that cover approximately 500 hectares. Media Luna West is the second of these targets to be drill tested and is located approximately 1.4 km to the west of the main Media Luna target. The third target is scheduled to be tested later in the drill program and as well, there are several other magnetic anomaly targets in close proximity to the Media Luna Area, at the Morelos Gold Project in Mexico.
Corex Gold Corp. wishes to announce that, further to its news release dated July 25, 2012 relating to a letter of intent with Vale Exploration Canada Inc., a wholly-owned subsidiary of Vale S.A., the parties have extended the deadline for entering into a formal option agreement with respect to the Company’s Santana Project from October 19, 2012 to November 5, 2012.
Orex Minerals Inc. would like to announce that Dr. Petri Peltonen has resigned from the board of directors and has been replaced by Jukka Jokela, who will serve as Northland Resources S.A.’s appointee to the Orex Board of Directors.
Arco Resources Corp. announces that it has extended the expiry date of its unexercised share purchase warrants, issued April 25, 2011, to October 31, 2013. The extension, which is subject to the approval of the TSX Venture Exchange, applies to the 8,000,000 Warrants still outstanding.
Paget Minerals Corp. announced today the initiation of Phase 1 drilling at the San Ricardo Gold-Silver Project located within the prolific porphyry and epithermal gold-silver-copper belt of northern Sonora State, Mexico. Paget has an option to earn up to 60% of the 38,100-hectare property from Sundance Minerals Ltd.
Soltoro Ltd. holds a total of 6,847,000 common shares of Argentum Silver Corp. and is completing the transfer of 100% of the mining rights to the Coyote property to Argentum Silver Corp. Upon transfer, Soltoro will retain a 3% Net Smelter Return interest in Coyote whereby 1% can be purchased by Argentum Silver for US$1.5 million to a maximum of 2%.
Source Exploration Corp. is pleased to report that step-out drilling at the Santa Cruz target at the Las Minas project in Mexico has intersected high-grade mineralization along-strike from that previously discovered in hole LM-11-SC-45, within the larger halo of copper-gold mineralization at Las Minas. As previously reported, hole LM-SC-45 returned an intercept of 15.89 grams per tonne gold (g/t Au) 12.98 grams per tonne silver (g/t Ag) and 2.25 percent copper (% Cu) over 10.0 metres. Step-out drilling has returned significant gold values as well as some of the highest grade silver and copper intercepts recorded to date. The higher grade mineralization appears to be closely associated with skarn-type alteration with high magnetite content ranging up to 90% by volume. A detailed magnetic geophysical survey has been initiated in an effort to better define future drill targets.
Aurcana Corporation is pleased to report a 54% increase in silver production from the La Negra mine for Q3 2012 of 376,687 ounces compared to 244,243 ounces in Q3 2011, making it the largest quarter for silver production in Aurcana’s history.
McEwen Mining Inc. is pleased to announce Third Quarter production results and the discovery of a new vein system at the San José mine (49%) in Argentina. The San José mine had another solid quarter of production and El Gallo Phase I (100%) in Mexico achieved its first gold pour. Third Quarter production totaled 10,572 ounces gold and 760,670 ounces silver, representing 25,200 gold and gold equivalent ounces1. The Company remains on track to produce approximately 105,000 gold and gold equivalent ounces in 2012. Production costs will be announced with the Third Quarter financial results, which will be released in early November.
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